Soft Space, founded in 2012 and headquartered in Kuala Lumpur, offers Fasstap, a terminal‑less NFC touch payment service that enables NFC acceptance via a tablet or smartphone app. The company also provides mobile contactless payment solutions and white‑label e‑wallet products, serving over 30 global markets and more than 90 financial institutions and partners. Soft Space leverages patented mobile contactless payment expertise to enable card issuers and banks to expand digital payment adoption. In the announced partnership, Soft Space intends to strengthen its payment platform and increase its presence in Japan. The company plans to use the partnership and incoming funds to broaden adoption across public transport, hotels, restaurants and other retail segments. CEO Joel Tay says the deal will accelerate non‑contact payment promotion in Japan through collaboration with GMO Financial Gate. Soft Space builds white‑labeled mobile payment solutions for enterprise customers—primarily banks—covering point-of-sale and other parts of the payment process. The Kuala Lumpur–based startup is currently active in Malaysia, Thailand, Indonesia and Taiwan and works with large enterprise partners to customize deployments. It has 76 employees across three offices and recorded take‑home revenues of 27.8 million MYR (~$6.5M) over the last year, having reached break‑even. Soft Space closed a $5M Series A provided entirely by Japanese firm Transcosmos, which also brings strategic expansion support and ties to Japanese companies. With Transcosmos backing and existing partners such as Sumitomo Mitsui Card Corporation, Soft Space is assessing potential expansion into Japan and assisting Japanese firms to enter Southeast Asia. The company plans to pursue requisite financial licenses in Malaysia, Thailand and Indonesia to operate independently, and says its near‑term priority is scale and development rather than immediate profitability.

Total raised

$5M

Funding rounds

2

Latest round

Series A

Latest activity

May 2017